The acquisition takes the company’s Italian solar development pipeline to over 1.5GW
Lightsource BP has acquired 156MW of solar projects from Horizon Firm, expanding its utility scale solar portfolio in Italy.
The acquisition, which includes three solar projects, takes the company’s Italian solar development pipeline to over 1.5GW.
Two of the acquired solar projects are based in Sicily, in a low solar plant massification density area, in the province of Agrigento. They include the 40.9MW Canicattì project and the 58.2MW Torre di Mastro project.
Based in Apulia, Manfredonia is the third project with a capacity of 57.4MW. The project is planned to be developed as an Agri-PV, with an objective to virtuously integrate agriculture and renewable energy.
The three projects are anticipated to attain ready-to-build status in 2022.
Lightsource BP Italy in-country lead Giovanni Mascari said: “We acquired this portfolio from Horizon Firm because these projects have been sensitively planned around local ecological and heritage values.
“We intend to build on this good work to demonstrate that solar projects can create opportunities to meet climate goals whilst addressing local economic growth and enabling diversification of income for the agriculture sector.
“We look forward to working closely with local authorities and agriculture specialists to further establish our plans for these projects.”
Lightsource BP has also signed exclusivity agreement with Horizon Firm to acquire an additional 130MWpof solar projects.
The company targets to close the transaction in the next few months.
The projects are expected to make a significant contribution to Italy’s long-term commitment to achieve net zero emissions by 2050.
By investing €105m locally through the projects, Lightsource BP is expected to create 1,300 green jobs in construction, land management, agricultural activities, and engineering.
In February, Lightsource BP acquired 78MW solar project in Italy from Sicily-based renewable energy developer EGI.